A variety of utilities can be availed using the facility that comes with a unique feature of withdrawing money from consumer service points (CSP) and authorised retailers by users without any bank account. So far, the facility has been launched in six states.

Launching the m-wallet here, BSNL Chennai Telephones chief general manager S M Kalavathi said the new facility would be helpful for the migrant labours.

"It is very useful to migrant labours as fund transfers and banking transactions are possible. If ATM is not available in an area, MobiCash e-wallet users can withdraw money from the retailers," she said.

There are 300 CSPs functioning in the Chennai telecom circle, she added.

While the virtual wallet allows transaction up to Rs 20,000 for any subscriber, Know Your Customer (KYC) compliant users can transfer up to Rs 1 lakh.

Currently, payment of BSNL mobile and landline bills are available. Utilities like payment of electricity and water bills, besides taxes are expected to be added soon.

Speaking on the occasion, SBI general manager, Network-1, Chennai D Indu Sekar said that MobiCash is the only m-wallet that offers withdrawal of funds. "Unlike other wallets, it is the only wallet, where you can deposit and withdraw cash. Bank account is not mandatory for this and your mobile number itself is the account," he said. He further added that users do not need to hold any bank account for using the facility.